UPI: Russian natural gas exports declining

The Russian Energy Minister Alexander Novak said natural gas exports to European consumers were on the decline.

Russian energy company Gazprom's figures from January stated that natural gas exports were 8.2 percent higher than for 2011 at around 53 billion cubic feet. Novak told an energy forum, however, that year-on-year exports to European consumers were expected to decline as much as 5 percent, the Platts news service reports.

Russian Gas Society President Valery Yazev told the same forum that Turkey was the only country in the broader European region to see an increase in gas deliveries from Russia.

Platts offered no suggestion for the decline in natural gas deliveries. Weather, a stagnate European economy and efforts to find alternative natural gas supplies may be contributing to the drop off.

Ukraine, through which the bulk of Russian natural gas deliveries to Europe travel, said recently it was cutting back on gas purchases from Russia despite a take-or-pay mechanism with Gazprom.  MORE